NEED HELP? WE'LL GET IN TOUCH SHORTLY!

Feed in your details

Tag: counterfeit luxury items

The Police and National Trading Standards officers recently seized a large stock of fake luxurious products of famous brands like Chanel, Dior and GHD. The total value of confiscated products is a staggering £2.5 million.

The authorities conducted raids at a home in Hall Green and a storage unit in Digbeth. The officers took two days to vacate the warehouse in Digbeth which was stacked with duplicate products.

The duplicate products include belts, purses, handbags, watches, footwear, sunglasses and other accessories. The fake products also included brand names of SuperDry, Louis Vuitton, North Face, Stone Island etc.

However, it was a massive 50,000 bottles of fake Armani, Paco Rabanne, Chanel which was the biggest concern. The officials said that the confiscated fragrances failed to comply with the Cosmetic Products Enforcement Regulations 2013.

The police also raided four vans which had large amounts of fake products along with the evidence of manufacturing labels and equipment.

The raid was connected to Operation Beorma a combined National Trading Standards (NTS) and National Markets Group (NMG) action to check the import and supply of branded counterfeit and unsafe products. The seized goods were meant to be sold to dubious customers on social media and car boot sales.

Some of the well-renowned luxury brands like Hermes, Louis Vuitton, Gucci, Adidas etc. have been facing the problem of counterfeiting across the world. Luxury products once available for the elite are now widely available for the rising middle class at slashed prices but mostly in the form of fakes. With the increase in globalisation consumers have become more brand conscious and people are spending a good amount of money on buying costly products. Along with this, the e-commerce market players are heavily investing in selling different kinds of luxury products on their platform.

The growing penchant for e-commerce, the intoxicating pop culture and the average young consumer base which is around 67% of India’s population has led to a massive rise in the demand for luxurious products.

According to trade reports, “Luxury Goods Market is expected to garner $429,762 Million by 2022, growing at a prominent CAGR of 3.9% from 2016 to 2022. Luxury goods are high-value products in terms of price and quality. These goods are mostly considered as status symbols for individuals.”

However, “The Global Brand Counterfeiting Report 2018 estimates that the losses suffered due to global online counterfeiting has amounted to 323 Billion USD in the year 2017, with luxury brands incurring a loss of 30.3 billion dollars through internet sales.”

The global luxury counterfeit market is growing with every passing day. With the availability of technology and poor regulation policies, counterfeiters have been able to develop new counterfeit products. China is a prominent hub of luxury counterfeit products and supplies it to different parts of the world.

From luxury totes to enticing ultra-luxury jewellery all things for the rich and famous are available for you now with ease but only in its duplicate form. The problem of counterfeiting of luxury items can only be eradicated with the use of combined digital and physical security and strict regulation.